Germany allocates funds to Georgia for regional projects
BAKU, Azerbaijan, August 8
By Tamilla Mammadova – Trend:
Germany will provide Georgia with 310 million euros in aid to help the country fight COVID-19 as well as to implement various regional projects, Trend reports citing the Ministry of Finance of Georgia.
As reported, 180 million euros will be allocated for anti-COVID-19 measures, while the remaining 130 million euros are aimed at implementation of projects in regions.
"Today, Georgia is one of the largest recipients of German financial support per capita. This proves how important our relationship is", said Georgian Finance Minister Ivane Matchavariani after signing the loan agreement.
The minister added that from 130 million euros allocated for regional projects, 80 million euros will be provided to Kazbegi municipality and 50 million euros will be spent on the development of Imereti region.
On July 31, Germany allocated a 170-million euros loan and a 28.5-million euros grant to Georgia as part of an agreement signed between the governments of the two countries.
To date, within the financial and technical cooperation with Germany, more than 1 billion euros in funding in the form of grants, technical assistance and soft loans have been allocated for Georgia.
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